Saudi jeweller L'azurde signs deal to buy rival Retailer says agreement inked to acquire 100% equity stake of Izdiad Commercial Company of Arabia Saudi jewellery giant L'azurde has announced plans to buy a competitor operating in the affordable luxury sector in the Gulf kingdom. L'azurde for Jewelry Company said in a statement that the board... Continue Reading →
Topshop and Topman New Zealand to close stores Topshop and Topman New Zealand are closing its Auckland and Wellington store after a failed attempt to find a buyer for the fast-fashion retailer. Topshop and Topman is operated by Top Retail in New Zealand, with the firm entering voluntary administration in early September on the back... Continue Reading →
(Photo by Peter Macdiarmid/Getty Images) Primark fans, take a deep breath, because we’ve got some amazing news for you. Primark is set to open a brand new store – and it’s going to be bigger and better than ever. The biggest in the UK, in actual fact. The new store, which is going to be... Continue Reading →
Hyundai Department Store announced that it will open COS brand mall at The Hyundai.com. COS also launched the official online store in Korea. Price at online mall is the same as the offline mall. COS is a fashion brand that offers a collection of high quality at reasonable prices based on modern and practical design.... Continue Reading →
Harvey Nichols to open new store in Doha Luxury retailer Harvey Nichols has confirmed plans to a new store in Doha. The department store group said it has signed a licence agreement with Saleh Al Hamad Al Mana Group to open an outlet in Doha Festival City. The 7,432 square-metre store is scheduled to open... Continue Reading →
Primark takes biggest letting in 25 years at Centre:MK Primark is set to take over the former BHS store at Centre:MK in Milton Keynes, marking the shopping centre’s largest letting in quarter of a century. The discount fashion retailer has penned a deal to move into the 75,000sq ft space, a year after BHS vacated... Continue Reading →
CEO Jeff Bezos has allocated $5 billion toward Amazon's expansion in India Amazon.com is set to buy a 5 percent stake in Indian retailer Shoppers Stop, valued at $27.6 million (1.79 billion-rupee), as the US company steps up efforts to gain ground in the fast-growing consumer market. Shoppers Stop’s board approved the issuance of 4.4... Continue Reading →
New Balance to open 40 new stores across Gulf by 2020 The athletic shoemaker sees strong demand for its style of trainer throughout the region New Balance, the Boston-based maker of trainers and running shoes, is planning to aggressively expand its presence in the Gulf region, increasing its store count to 50 by 2020, its... Continue Reading →
Tom Warren Microsoft is opening its first UK store in London. RetailWeek first reported that the software giant is in talks to secure a building at Oxford Circus, a popular shopping venue in the heart of London. Microsoft has confirmed that it plans to open a store in London. The building is currently occupied by... Continue Reading →
Max Mara opens redesigned flagship store in New York at Madison Avenue The opening event of the Max Mara flagship in New York unveiled not only the stunning reimagined space, but saw the release of a special edition mini Whitney Bag. While the bag boasts vibrant, jewel-tone colors and a luxe velvet material, the newly... Continue Reading →
British department store chain House of Fraser half-year earnings fell to an 8.6 million pound loss for the 26 weeks to July 29, 2017, down significantly from its EBITDA profit of 900,000 pounds for H1 2016. House of Fraser’s like-for-like sales and profits for the first half of the year dropped after being heavily disrupted... Continue Reading →
Fat Face has promoted four of its senior staff to director level as part of an ongoing investment drive to improve its products and ecommerce divisions. Emma Shaw has been promoted from head of design to design director, while Kate Brown was promoted from head of buying and quality to buying and quality director. Shaw... Continue Reading →
1 half-year earnings sunk to an £8.6m loss Profits at House of Fraser have come under strain after the launch of a new web platform and "significant discounting" took its toll on the retailer. The department store chain said half-year earnings sunk to an £8.6m (€9.7m) loss, down from a £900,000 profit in 2016, as... Continue Reading →
Toys 'R' Us forced to file for US bankruptcy September 20 2017 2:30 AM 1 Toys R Us Stock US retail giant Toys 'R' Us filed has for bankruptcy, under a debt load piled on the business in a private-equity buyout a decade ago. The company listed debt and assets of more than $1bn each... Continue Reading →
Kuwait's Alshaya invests in Alabbar's e-commerce platform Noon Retail franchise operator acquires stake in soon to be launched online marketplace Kuwait-based retail franchise operator MH Alshaya Co has acquired a strategic stake in Noon, the region’s new e-commerce platform, it said on Thursday. Additionally, Alshaya said it will become a seller on Noon’s marketplace platform,... Continue Reading →
SOUQ.com today announced it has entered into a definitive agreement to purchase Wing.ae, a marketplace for merchants and couriers in the UAE, providing innovative mobile and web-based user-friendly delivery solutions for businesses and individual consumers. SOUQ.com previously invested in Wing.ae and will be acquiring 100% of the company. Wing.ae now has the full backing of... Continue Reading →
Online sales at BHS grow 35% thanks to new start-up mentality. The MD of BHS.com has revealed sales at the online retailer have increased by over a third in Q2. Speaking to the Press Association, BHS.com MD Kevan Mallinder said sales grew 35%, bolstered by its womenswear clothing range which increased 350% over the period.... Continue Reading →
Following the openings of Arket and Weekday on London's Regent Street in August, parent company H&M has announced plans to open two new Monki stores, one at Westfield Stratford and the other at Buchanan Galleries in Glasgow. Both stores will adopt the Monki World concept, leading customers into an imaginery universe that has inspired 115... Continue Reading →
UK retail giant Marks & Spencer reportedly in discussions over deal for Hong Kong and Macau operations UAE-based conglomerate Al-Futtaim is reportedly in talks with UK retail giant Marks & Spencer for the possible purchase and franchising of its business in Hong Kong and Macau. The UK's Financial Times said the talks could see Al-Futtaim... Continue Reading →
“As reported at the year-end results presentation in May 2017, given the current low-growth economy and resultant poor retail environment, the most significant near-term opportunity is to regain lost market share in the two divisions, MRP Apparel and Miladys, which underperformed in the previous financial year,” the group said. The group reported in the trading... Continue Reading →
McDonald’s workers are staging their first UK strike since the US burger chain opened in Britain over forty years ago, amid a heated row over zero-hours contracts and claims of workplace bullying. The 24 hour strike began at midnight at two outlets owned by the fast food giant which has been selling its burgers to... Continue Reading →
The ew store is part of the first phase of The Knightsbridge Estate K1 development (1, Sloane Street) and will see Burberry relocating its local flagship from nearby Brompton Road where it currently trades from twin men’s and women’s shops. The new move to a site not far from Harvey Nichols will give it the... Continue Reading →
British handbag and accessories brand Radley is set to return to the American market, following its withdrawal six years ago, after signing an exclusive deal with US department store chain Macy’s. The deal, will see Radley opening concessions in 100 Macy’s stores by Christmas, with as many as 300 possible within the next 12 months,... Continue Reading →
Poundland given one of the biggest ever retail food safety fines as mouse droppings found on baby clothes The discount chain had to close one of its busiest stores when evidence of mouse droppings and urine were found on food shelves alongside gnawed and soiled packets of biscuits, nuts, sweets and popcorn Poundland has been... Continue Reading →
Digital innovation is revolutionising the retail landscape in the Middle East - and not only online The growth of retail in the Middle East has been nothing short of remarkable. London, Paris, Milan and New York still inevitably dominate the global shopping scene, but as pioneers in the retail space, emerging markets such as the... Continue Reading →
The chief executive of New Look is to step down just over two years after his turnaround of the high street fashion chain paved the way for its £2bn sale. Sky News has learnt that Anders Kristiansen is to leave the company, which is majority-owned by South African investor Brait, in the coming weeks. His... Continue Reading →
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